Question

question 6 (mandatory) (5 points) the following adjusting journal entry found in the journal is missing an explanation. select the best explanation for the entry. wages expense 4,500 wages payable 4,500 ?????????????? record payment of wages. record wages paid last month. record wages paid in advance. record wages expense incurred and to be paid next month.

Explanation:

When wages are incurred but not yet paid, we debit Wages Expense to recognize the expense for the period and credit Wages Payable to record the liability. This entry represents wages that have been earned by employees but will be paid in the next accounting period.

Answer:

Record wages expense incurred and to be paid next month.